Finance
Purchase GAP Insurance
Why Purchase GAP? |
|
|
1. In the first year of ownership, one in every 110 new car purchasers will end up with a total loss vehicle.
2. One in three Americans suffer the total loss of a vehicle at some point during their lifetime.
3. One in nineteen drivers will have a total loss of a new vehicle (fewer than two years old) due to a collision.
4. One in every twenty drivers will experience an unrecovered theft.
|
|
50% of the time, automobile insurance companies will not pay enough to satisfy loan or lease balances on totaled cars.
Classic GAP elimintes the financial gap between your primary insurance company's settlement and the loan pay-off amount. In addition, classic GAP will even cover your deductible.
For example, if your vehicle is totaled, this is what you can expect:
Your loan pay-off $15,000
Your vehicles actual cash value $13,000
Your deductible $500
Your insurance settlement $11,500
The GAP -$3,500
Classic GAP Insurance pays $3,500
Nothing could be worse than having to reach into your pocket to cover losses such as this, or having to continue to make payments on a car, truck, motorcycle, RV or a boat you don't have because you didn't buy GAP.
GAP is Guaranteed Auto Protection, offering protection against financial liability for folks who finance or lease, new our used vehicles.
During the first few yers, leases or loan balances can be higher than the actual value of the car. As a car's value declines, the loan or lease balance remains significantly higher.
read more about GAP Coverage @ msn money
Tom Fox
Business Manager
|
How are we doing? Click here to tell us!